Formosa Petrochemical to raise fuel prices next week

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Formosa Petrochemical Corp. (????), a privately owned fuel supplier, said Saturday that it will raise its domestic gasoline and diesel prices next week, elevating the price for super diesel to again breach the NT$20 (US$0.63) per liter mark.

From 1 a.m. Monday, domestic gasoline and diesel prices at Formosa Petrochemical's fuel pumps will increase by NT$1.1 per liter, the company said.

After the adjustment, fuel prices at the company's gas stations nationwide will climb to NT$20.05 per liter for super diesel, NT$23.2 per liter for 92 octane unleaded, NT$24.7 per liter for 95 unleaded and NT$27 per liter for 98 unleaded.

The fuel price hike is based on a rise in international crude oil prices, it said.

The company's major competitor, state-owned CPC Corp., Taiwan (??), is expected to announce similar price adjustments at noon Sunday, with the new prices becoming effective at midnight.

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